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ITIN Loans in Industry
Industry sits at the commercial heart of Los Angeles County, with a mix of industrial zones and residential pockets. ITIN borrowers here typically target nearby residential areas in surrounding cities.
Most ITIN buyers in this region work in logistics, manufacturing, or own small businesses. The lack of market data doesn't change borrower profiles—lenders focus on income documentation and credit history built with an ITIN.
You need a valid ITIN, 12-24 months of bank statements or tax returns, and typically 15-25% down. Credit scores start at 600, though 680+ gets better pricing.
Most lenders require reserves covering 6-12 months of payments. Employment or business income must be documented through deposits, not just paystubs you can't provide without an SSN.
Only specialized non-QM lenders offer ITIN loans—you won't find these at Wells Fargo or Bank of America. We work with 15-20 lenders who actively fund ITIN mortgages in California.
Rates run 1-2% higher than conventional loans because these are portfolio products with manual underwriting. Lenders price based on down payment size, credit depth, and income documentation quality.
ITIN borrowers often have stronger financials than their loan type suggests. I've closed deals for business owners with $200K in the bank who simply don't have Social Security numbers.
The biggest mistake is not organizing documents early. Get 24 months of bank statements, ITIN letter from IRS, and any business licenses before you start shopping. Missing one statement can delay closing 30 days.
Foreign National Loans require larger down payments but work without U.S. credit. Bank Statement Loans suit self-employed ITIN holders with fluctuating deposits.
If you have significant liquid assets, Asset Depletion Loans may offer better rates by qualifying you on cash reserves instead of income. Each route has trade-offs in rate, down payment, and documentation.
Industry's commercial zoning means most ITIN buyers look at properties in neighboring residential areas. Lenders restrict live-work spaces and mixed-use buildings more strictly for non-QM loans.
Los Angeles County requires additional documentation for closing, which compounds ITIN paperwork. Budget an extra week for title and escrow to verify documents that typically come from employer HR systems.
Some lenders go to 10% down with strong credit and reserves. Most require 15-20% to offset risk on non-QM programs.
Yes, but expect 25-30% down and higher rates. Some lenders cap at primary residence only.
Alternative credit like rent and utility payments can substitute. Expect higher rates or larger down payments with limited credit depth.
Figure 45-60 days with complete documents. Manual underwriting adds time compared to automated conventional loans.
Absolutely—ITIN borrowers refinance to lower rates or pull equity. Same documentation requirements apply as purchase loans.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.